Grandfield & Dodd LLC Has $6.09 Million Stock Position in Corning Incorporated $GLW

Grandfield & Dodd LLC trimmed its position in Corning Incorporated (NYSE:GLW) by 16.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 69,554 shares of the electronics maker’s stock after selling 13,920 shares during the period. Grandfield & Dodd LLC’s holdings in Corning were worth $6,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors acquired a new stake in shares of Corning during the third quarter worth approximately $907,164,000. Norges Bank acquired a new stake in shares of Corning during the fourth quarter worth approximately $921,435,000. WCM Investment Management LLC acquired a new stake in shares of Corning during the third quarter worth approximately $676,931,000. Wellington Management Group LLP boosted its holdings in shares of Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. Finally, Polar Capital Holdings Plc boosted its holdings in shares of Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after purchasing an additional 2,348,125 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,655 shares of company stock valued at $12,046,561 over the last three months. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. UBS Group raised their price target on shares of Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Barclays raised their price target on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Citigroup raised their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Truist Financial raised their price target on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.92.

Corning Price Performance

NYSE GLW opened at $181.37 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $156.09 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14. The company has a 50 day moving average price of $167.47 and a two-hundred day moving average price of $126.60. Corning Incorporated has a 12-month low of $48.88 and a 12-month high of $211.79.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning’s payout ratio is 53.59%.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.